Diamonds Podcast Transcript

Welcome to the Informed Consumer, providing the latest tips and tools to
assist consumers in making informed decisions, from the Fairfax County
Consumer Affairs Branch.

Today’s topic: Damonds, Know What You’re Looking For.

When you shop for a diamond, the most advertised factors which affect
its value are the “4 C’s” carat weight, cut, (proportions, not shape),
color and clarity. Don’t forget another important factor,
cost. In order to understand the complexity of the diamond
grading system, you should consult with a diamond expert, preferably a
graduate gemologist, who has earned the highest degree offered by the
Gemological Institute of America (GIA), or Accredited Jewelry
Professional (AJP).

Shop for an un-mounted diamond. A diamond that has been set in a
ring may have imperfections that are hidden behind the ring’s
prongs.

Ask to see several diamonds which fall within your price range and
compare their characteristics.

Insist that each diamond is accompanied by a grading report preferably
from GIA. GIA Diamond Grading Reports are the most widely used
reports in the industry and grade only un-mounted diamonds. GIA offers
laboratory grading services to the trade and the public.

GIA Laboratory can also laser-inscribe the diamond’s report number on
the diamond so that the diamond can be identified if it is ever lost or
stolen.

An internally flawless diamond is extremely rare and
costly. Therefore, it is wise to have each diamond inspected to
determine the type of flaw it contains and how it may weaken the stone
(if it breaks the stone’s surface) or obstructs the refraction of light
through the stone.

Look for the retail jeweler’s refund policy. The Virginia Consumer
Protection Act requires that it must be conspicuously posted. The
refund policy should give you sufficient time to take the diamond for
an insurance appraisal (the diamond should appraise higher than the
price you paid) to an independent appraiser/graduate
gemologist (not another retailer who may have a vested interest in
selling you another diamond). If the retailer does not
permit refunds, go to another jeweler.

Never leave your new diamond to be set in a ring or leave the ring for
repairs or cleaning unless you are given an intake receipt which
contains the retailer’s name and address, date, your name and address
and a complete description of the stone and value of the
ring. When you receive the ring back, take it (with your
independent appraisal or GIA Report) to your selling jeweler or
independent appraiser to verify that the stone matches the reports.
Some jewelers have been known to switch diamonds with cubic
zirconias.

If you buy a diamond online, print out the web pages that detail the
transaction, including the site’s return policy.

Thanks for listening to the Informed Consumer. For more information on
this topic or if you feel that you’ve been a victim of a scam, please
contact the Consumer Affairs Branch at 703-222-8435 or visit our web site
at www.fairfaxcounty.gov/consumer. Informed Consumer is produced by the
Fairfax County, Virginia, government.